Peter Smart has the following balance sheet as at 31 May 20-8: LO6 Balance Sheet as at 31 May 20-8 Assets

£

Liabilities

£

Motor vehicle 2,000 Capital 6,600 Premises 5,000 Creditors 400 Stock of goods 1,400 D Bevan (Loan)

3,000 Debtors 600 Cash in hand 200 Cash at bank 800 10,000 10,000 During the first week of June 20-8 the following transactions took place:

Jun 2 One of the debtors paid him £250 in cash Jun 4 He bought further goods on credit costing £800 Jun 5 He bought office equipment costing £450, paying by cheque You are required to draw up Peter Smart’s balance sheet as at 6 June 20-8 after the above transactions have been completed.